Business owners always face an uphill battle, but things have been especially tough in recent years. Many are finding it difficult to keep pace with inflated costs and tariffs, which are eroding their margins and making it harder to stay afloat. Furthermore, 53% of small business owners say they need more financing now than they did a year ago, according to a nationally representative survey conducted by WalletHub.
This survey examined how business owners feel about their financial situation currently, what their expectations are for the future, and how they interact with different types of financial products. Below, you can find additional highlights from WalletHub’s survey, which should provide food for thought during National Small Business Week and beyond.
Key Stats
- Rising Demand for Funding: 53% of small business owners say they need more financing now than they did a year ago.
- Optimism for Growth: More than 3 in 5 small business owners believe now is a good time for a small business to grow.
- Small Business Week Boost: 40% of small business owners think Small Business Week helps their business.
- Tariffs Are Bad for Business: 66% of small business owners say tariffs are not good for small businesses.
- Taxes Tough on Small Biz: 33% of small business owners say that taxes are their biggest frustration, while 24% cite inflation and 14% point to borrowing.
- Google Not a Friend to Small Biz: More than half of small business owners believe Google doesn’t treat small businesses fairly.
Full Survey & Responses
| Have you used a personal credit card for business expenses? | |
|---|---|
| Yes | 83% |
| No | 17% |
| Is now a good time for a small business to grow? | |
| Yes | 62% |
| No | 38% |
| Does Small Business Week actually help your business? | |
| No | 60% |
| Yes | 40% |
| What should the Federal Reserve do with interest rates? | |
| Cut rates | 59% |
| Leave rates as is | 23% |
| Raise rates | 18% |
| What’s your biggest frustration as a small business owner? | |
| Taxes | 33% |
| Inflation | 24% |
| Borrowing | 14% |
| Operations | 13% |
| Regulations | 9% |
| Credit card fees | 6% |
| Does your business need additional financing more now than it did 12 months ago? | |
| Yes | 53% |
| No | 47% |
| Are tariffs good for small businesses? | |
| No | 66% |
| Yes | 34% |
| Do you think it is fair that small businesses get worse interest rates on their bank accounts and credit cards than consumers? | |
| No | 60% |
| Yes | 40% |
| Does Google treat small businesses fairly? | |
| No | 51% |
| Yes | 49% |
| Will the next 12 months be good or bad for small businesses? | |
| Good | 55% |
| Bad | 45% |
Note: Percentages may not total 100% due to rounding.
Survey Methodology
This report reflects the results of a nationally representative online survey of 200 small business owners.
After we collected all responses, we normalized the data by age, gender, and income so the sample would reflect U.S. demographics.
WalletHub experts are widely quoted. Contact our media team to schedule an interview.